5339 Calvary Trl · Melrose, IA 52569

$64,500

3 bd · 2.0 ba · 1,216 sqft · SingleFamily · 95 Days on market

Built 1994 Average condition $53/sqft · 14% below area Est $75k · 14% under ↓ 35% since listing

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Why this score? — see what drove the A grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Schools +6.1/10.0
• Livability +2.9/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

This meticulously-maintained mobile home is ready for the 2026 Rathbun summer season! Located in Green Acres subdivision near Lake Rathbun, it has 3 bedrooms and 2 bathrooms with an open living/dining space for everyone to be together. It also has a covered outdoor porch large enough for outdoor furniture and plenty of yard where you can enjoy those beautiful summer evenings. Included on the property is a utility shed large enough to house a riding mower and more. The Green Acres subdivision also boasts amenities such as a private outdoor pool, stocked pond for fishing, a community center, playground and basketball court! Come take a look today, summer is right around the corner!

Key facts

• Utility shed
• Lake rathbun
• Built 1994

Tags

• GREEN ACRES SUBDIVISION
• LAKE RATHBUN
• COVERED OUTDOOR PORCH
• UTILITY SHED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $64k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $488 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $59k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#919 in IA) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-; Watch: crime C-, schools F, amenities F.
• Albia Community School District (town): math 68% / reading 77% proficiency, ranked #117 of 289 in IA (top 40%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 26 active listings in the ZIP; 13 units permitted in Monroe County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($446 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $58,695 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.83% ✓
• Cap rate: 15.37%
• Cash-on-cash: 32.42%
• DSCR: 2.44
• GRM: 4.5

CMA / ARV

• ARV (median comp): $75,000
• List price: $64,500
• Delta: -14.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5370 Wells Fargo Trl	0.25mi	2/1.0 (-1)	1,260 (+4%)	6mo	$168,500	$134	69
2692 535th Trl	0.05mi	4/1.0 (+1)	1,344 (+10%)	8mo	$70,500	$52	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 49.0%
• Equity multiple: 4.67×
• Total profit: $66,219
• Equity at exit: $58,107

10-year hold

• IRR: 42.8%
• Equity multiple: 10.45×
• Total profit: $170,605
• Equity at exit: $125,309

Cash invested: $18,060 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 52569

• Home prices YoY: 5.3%
• Active inventory: 26
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$338
• Tax est. 1.5%: −$81 /mo · $968/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $488

Break-even live

Break-even rent $564

Max offer price $64,500

Occupancy floor 54%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $64,500 Active 95 DOM
2. 2026-06-17
   days on market $64,500 Active 94 DOM
3. 2026-06-16
   days on market $64,500 Active 93 DOM
4. 2026-06-15
   days on market $64,500 Active 92 DOM
5. 2026-06-13
   days on market $64,500 Active 90 DOM
6. 2026-06-12
   days on market $64,500 Active 89 DOM
7. 2026-06-09
   days on market $64,500 Active 86 DOM
8. 2026-06-08
   days on market $64,500 Active 85 DOM
9. 2026-06-07
   days on market $64,500 Active 84 DOM
10. 2026-06-05
    days on market $64,500 Active 82 DOM
11. 2026-06-04
    days on market $64,500 Active 80 DOM
12. 2026-06-02
    days on market $64,500 Active 79 DOM
13. 2026-06-01
    days on market $64,500 Active 78 DOM
14. 2026-05-31
    days on market $64,500 Active 77 DOM
15. 2026-05-31
    days on market $64,500 Active 76 DOM
16. 2026-03-14
    listed $64,500 Active 692-char remark

    Show marketing remark (692 chars)

    This meticulously-maintained mobile home is ready for the 2026 Rathbun summer season! Located in Green Acres subdivision near Lake Rathbun, it has 3 bedrooms and 2 bathrooms with an open living/dining space for everyone to be together. It also has a covered outdoor porch large enough for outdoor furniture and plenty of yard where you can enjoy those beautiful summer evenings. Included on the property is a utility shed large enough to house a riding mower and more. The Green Acres subdivision also boasts amenities such as a private outdoor pool, stocked pond for fishing, a community center, playground and basketball court! Come take a look today, summer is right around the corner!

17. 2025-08-29
    price $82,000
18. 2025-08-05
    price $87,000
19. 2025-07-03
    listed $99,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,182
• − Mortgage interest: −$3,613
• − Property taxes: −$968
• − Insurance: −$322
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$1,876
• Taxable income: $5,133
• Est. tax owed @ 24.0%: −$1,232
• After-tax cash flow: $4,623/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab

This mobile home is in average condition with cosmetic updates needed to enhance its resale and rental value.

Repairs flagged

• Minor Kitchen cabinets — Worn appearance
• Minor Bathroom fixtures — Signs of wear

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen cabinets — New cabinets improve functionality and appearance
• Both Replace bathroom fixtures — New fixtures enhance functionality and appearance
• Both Landscaping improvements — Enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Minor	$500–3,000
Bathroom fixtures · Signs of wear	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen cabinets — New cabinets improve functionality and appearance ↑
• Both Replace bathroom fixtures — New fixtures enhance functionality and appearance ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Albia Community School District
• NCES district ID: 1903270
• Math proficiency: 68% ▼ -9.00%
• Reading proficiency: 77% ▬ 0.00%
• Median HH income: $44,429
• Composite: 60.88/100
• National rank: #814
• State rank: #117 of 289 in IA

Livability — Melrose

• Score: 57/100
• State rank: #919
• US rank: #22357

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment F Housing A- Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 541
• Population (ZIP): 541

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 7,921 people
• By 2030: 7,918 · +-0.0%
• By 2040: 7,873 · -0.6%
• By 2050: 7,776 · -1.8%
• By 2075: 7,556 · -4.6%
• By 2100: 7,055 · -10.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 10%
• Common ancestry: Slovak 3% Romanian 3% Iranian 2%
• Foreign-born: 0%

Political lean MEDSL · Monroe

• 2024 margin: Solid R (+50.7) · D 24.2% · R 74.9%
• 2008→2024 swing: -45.5pp toward R · 2008: -5.2pp · 2024: -50.7pp
• All cycles: 2024: R+50.7 2020: R+46.4 2016: R+41.2 2012: R+7.7 2008: R+5.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 10.12%
• Current HPI: 199.977
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-34.8% since first listed

4 events — show timeline

• 2026-03-14 Listed $64,500 IAR
• 2025-08-29 Price Changed $82,000 IAR
• 2025-08-05 Price Changed $87,000 IAR
• 2025-07-03 Listed $99,000 IAR